September 16, 2010

Alcoa Joins Change the Equation to Solve America’s Innovation Problem

President Obama Launches Change the Equation at White House Event

NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that it has joined Change the Equation (CTEq), a CEO-led initiative to cultivate literacy in science, technology, engineering and math (STEM) and achieve President Obama’s ‘Educate to Innovate’ mission.

As global leader in innovation, engineering and manufacturing, Alcoa recognizes that as our world evolves, so too do the skills required to meet the challenges of tomorrow.

Since 2005, Alcoa Foundation has invested more than $27M to advance workforce readiness and expand STEM programs across Alcoa communities.

In signing onto CTEq, Alcoa joins forces with Time Warner Cable, Sally Ride Science, Kodak, Intel and Xerox, to prepare students for STEM-related careers as an investment in the economy of tomorrow. CTEq it is the first and only STEM education group that brings so many corporate leaders together in collaboration with the White House, State Houses nationwide, and the foundation community.

Alcoa Foundation President Paula Davis said, “Through a diverse portfolio of STEM partnerships and the work of our thousands of employee volunteers, Alcoa is empowering educators, inspiring students and strengthening institutions – all critical investments that we need to make for our future.

“From Michigan to Tennessee, Ohio to California, New York to South Carolina, we have signed on to Change the Equation to cultivate the next generation of science and innovation leaders, prepared to improve the way we live, work and play throughout the world.”

According to a report by the Center on Education and the Workforce, there will be eight million jobs available in STEM-related fields by 2018, however the next generation of employees in America will be unprepared to take advantage of these positions.

“‘I can’t do math’ has become an iconic excuse in our society,” said Linda Rosen, Chief Executive Officer of CTEq. “Many Americans have expressed it, but I don’t believe it’s an accurate reflection of who we are, or, more importantly, what we can do.”

Rosen continued, “If we don’t encourage our children and students to get excited about math as well as science, technology and engineering, we are denying them the chance to reach their potential, and be prepared for a future filled with opportunity.”

“CTEq can and will fire the nation’s conscience on STEM education. We will monitor our own progress and the progress of others, identifying what is working and what isn’t. CTEq will apply the lessons we learn so that the nation continues to move towards a future where every American is literate in science, technology, engineering and mathematics."

About Alcoa

Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum and alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for eight consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 59,000 people in 31 countries across the world. Visit www.alcoa.com.

About Change the Equation

Change the Equation (CTEq) is a non-profit organization whose 100 member companies from across industry sectors are dedicated to promoting innovation and investment in STEM teaching and learning. CTEq aims to give STEM education a central place in the national lexicon of excellence and achievement, establishing a national movement to support, promote and implement excellent STEM education for every child.